Leadership change and business review see Aclaris leap

16 January 2024

Shares of US clinical-stage biotech Aclaris Therapeutics (Nasdaq: ACRS) shot up as much as 40% to $1.21 in early trading today, after it announced leadership changes and that it is undertaking a strategic review of its business.

Aclaris’ shares were decimated last November, falling 84% after it revealed it would stop development of its rheumatoid arthritis treatment zunsemetinib, which had failed in a mid-stage trial.

Aclaris and Dr Douglas Manion have mutually agreed that he wil step down as the company’s chief executive and president and member of the board of directors, effective immediately. As a result, the board has appointed Neal Walker, Aclaris’ chairman, as Interim chief executive. Dr Walker is a co-founder of Aclaris, has served as a member of the board of directors since its inception, and previously served as Aclaris’ CEO until 2022.

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